Sažetak:U ovom radu analiziramo, koristeći panel regresiju sa fiksnim efektima, odnos između nivoa fiskalne decentralizacije i ekonomskog rasta u jedinicama lokane samouprave u Srbiji u periodu 2002-2011. godina. Naši rezultati ukazuju da postoji skroman pozitivan uticaj fiskalne decentralizacije na lokalni ekonomski rast u tom periodu u Srbiji. Jedan od dva posmatrana parametara (nivo zaposlenih u lokalnoj samoupravi i investicije lokalne samouprave) koji su korišćeni za dokaz naše hipoteze bio je pozitivan na rast stepena fiskalne decentralizacije. Veliki rast izvornih prihoda lokalne samouprave uglavnom su iskoristile za povećanje broja zaposlenih i plata u lokalnoj administraciji, dok je istovremeno broj zaposlenih u privredi smanjen. Istovremeno, rast izvornih prihoda neznatno je uticao na rast investicija. Na osnovu empirijske analize utvrđeno je da na oko 100 miliona dinara prosečnog godišnjeg rasta prihoda po jedinici lokalne samouprave u posmatranom periodu, svega 27.000 dinara u proseku je odlazilo na povećanje investicija. Pitanje optimalnog nivoa fiskalne decentralizacije kao i mogućnosti povećanja izvornih prihoda u okviru postojećeg zakonskog okvira takođe su bile diskutovane.Ključne reči: fiskalna decentralizacija, ekonomski rast, lokalna samouprava, Srbija Abstract:In this paper we examine, using a panel data approach with fixed effects, the relationship between the level of fiscal decentralization and economic growth across Serbian local self-governments over the 2002-2011 period. Our results suggest that there is a modest positive impact of fiscal decentralization on local economic growth in that period in Serbia. One of the two observed parameters (employment rates in local self-governments and local self-government investments) was positive in terms of the impact on the increased degree of fiscal decentralization. The substantial increase of local self-government own revenues was predominantly used to increase the number of employees and wages in local administrations, while, at the same time, the number of employees in the private sector dropped. At the same time, own revenue growth had only a slight impact on increase of investments. Based on an empirical analysis, out of approximately 100 million RSD of average annual increase of revenue per local self-government unit in the observed period, only 27,000 RSD on an average was directed towards increase of investments. The issue of the optimal level of fiscal decentralization, as well as the possibilities for increasing own revenues within the current legislative framework, were also discussed.

This paper compares the efficiency of profit- and wage-maximizing (PM and WM) monopsony in the labor market. We show that, both locally and globally, a PM monopsony may well be dominated by its WM twin, where the local and global dominance are defined with respect to a single (inverse) labor supply function and a single family of such functions. This family is always divided in the two disjoint (sub)families of the PM and WM dominance. We also analyze some major factors that explain the size of these (sub)families.

Goals and potential effects of fiscal decentralisation have been analysed in numerous scientific papers and studies. Empirical data shows different or even contradictory results of fiscal decentralisation expansion even though fiscal decentralisation is based on a solid theoretical framework. Fiscal decentralisation might have a positive impact on investment, GDP growth, quality enhancement of healthcare, education and social protection. The purpose of this paper is to provide empirical evidence whether fiscal decentralisation was primarily led by the economic or political rationale in the selected EU member states – 11 CEE and SEE countries. The EU integration process created a pressure on new member states which joined the EU between 2004 and 2013 to implement fiscal decentralisation policies. The goal of this paper is to quantitatively and qualitatively investigate whether all analysed countries followed the fiscal decentralisation path and what were the predominant reasons for fiscal recentralisation.

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Legal uncertainty represents one of the major impediments to sustainable economic growth of transition countries. Inadequate legal framework is often the source of legal uncertainty and strong impediment to effective rule of law and efficient judiciary. The purpose of this paper is to investigate the effect of penal policy on the prevention of tax indiscipline. The improvement of legal framework and tax discipline creates a synergistic effect for attraction of FDI, enhanced allocation of resources and higher economic growth. The analysis of the shortcomings of the existing legal solution is accompanied by the assessment of the prevailing case law and tax evasion criminalization in the selected European countries. Holistic approach to research allowed for the development of a specific proposal for the enhancement of legal framework and, consequently, the increase of legal certainty with positive effects on the economic growth of Serbia in the medium and long term.